Following the recent decline in Bitcoin (BTC), Ethereum (ETH), the largest altcoin by market capitalization, has also experienced a substantial decrease in value. This decline has dashed hopes of an imminent listing of an Ethereum Exchange-Traded Fund (ETF) in the coming days or weeks. The primary cause of this downturn is attributed to concerns that the market is being inundated with sales of Bitcoin, which has led to a ripple effect across other cryptocurrencies. Prior to this downturn, a well-known analyst had publicly released a projected price floor for Ether, anticipating the subsequent drop in its value.
